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Last Week

The House passed and sent to the President's desk the Workforce Innovation and Opportunity Act, which would streamline redundant training programs and coordination of services. To learn more, click here. In addition, the House passed appropriations for Energy and Water, as well as making bonus depreciation permanent, which ASA supported. Specifically, passage makes permanent the additional 50% depreciation allowance (bonus depreciation) for qualified property placed in service after Dec. 31, 2013. It also modifies the definition of "qualified property" to include qualified retail improvement property. It increases by $8,000 (with an annual inflation adjustment after 2014) the maximum allowable depreciation deduction for a passenger automobile (i.e., any four-wheeled vehicle that is manufactured primarily for use on public streets, roads, and highways and is rated at 6,000 pounds unloaded gross vehicle weight or less). The Senate confirmed former San Antonio Mayor Julian Castro to be Secretary of Housing and Urban Development and outgoing HUB Secretary Shaun Donovan as Director of the Office of Management and Budget. more

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